Hillsboro semiconductor company NexPlanar Corp. reported $10 million in new investment in a regulatory filing today, making it among Oregon's best-funded technology startups.

NexPlanar seeks to reduce defects during computer chip production by using pads to flatten silicon wafers and improve their quality. Formerly known as NeoPad, the company moved to Oregon from the Bay Area in 2008 and began production in Hillsboro late in 2010.

The company now has 50 employees in Hillsboro, up from 15 at the time of its last round in March 2011. Chief executive Jim LaCasse said NexPlanar will use the new funding to expand production in Oregon and establish operations in Asia.

"Our plan is to have manufacturing in both locations and keep (product) development here," LaCasse said.

Current initiatives include adapting NexPlanar's technology for 450-millimeter silicon wafers. Chip manufacturers hope to transition from the current standard, 300 millimeters, within the next few years. The larger wafers hold more chips and can substantially cut production costs.

NexPlanar had reported three prior funding rounds totaling $28.1 million, with backers including SmartForest Ventures, Intel Capital, InterWest and BlueRun Ventures. LaCasse said all participated in the latest round, plus an additional -- unnamed -- strategic investor. The latest round closed just before the end of last year.

Sales doubled in both 2011 and 2012, according to LaCasse, who predicts that cadence will continue: "The company is doing well."

Note: This article has been updated with additional context and comment from NexPlanar.